CASE STUDY

Fraud Detection in Investment Management

Banking Fraud is Big Business

Banking card losses in the United States are expected to exceed $30 billion by 2020. While card-present and card-not-present credit fraud detection methods are increasing, financial institutions must contend with the growing use of banking cards online, in stores, at fuel locations, and at ATMs. Mainstream analytics and fraud detection software are tasked with classifying and flagging unusual activities, behavioral patterns, and uncommon transactions amongst millions of card swipes. Yet these fraud detection tools struggle to quickly flag fraudulent transactions and halt them, leading to greater losses. Moreover, down-sampling and other techniques aimed at shrinking the dataset risk false positives, or shutting down benign transactions, which harm banking reputation and customer satisfaction.

DB-Turbo Version 5 accelerates existing fraud detection software and tools and fraud detection machine learning (ML) models, giving these tools the power to analyze the entirety of transaction datasets with millisecond results. DB-Turbo Version 5 can also be used to accelerate testing of new feature engineering and ML models aimed at visualizing and exploring massive datasets, and reducing false positives. DB-Turbo Version 5 also provides forensic and fraud analysts an immersive dashboard to cross-filter dozens of attributes such as amount, merchant, location, and time—among others, to dig into potentially fraudulent transactions. These analysts can display the transactions on an interactive map for geotiming, or measuring the time and distance between transactions for superior fraud prevention and detection.

Comprehensive fraud detection solutions are severely lacking in the banking and investment industries, but with DB-Turbo Version 5 fraud analysts are equipped with a powerful, customizable platform that meets their specific needs and makes fraud data analysis more efficient. DB-Turbo Version 5 is already used throughout the Financial Services industry, from investment management and hedge funds, to banking and insurance companies, to accelerate fraud detection, analyze alternative datasets, or accelerate modeling. Find out what else DB-Turbo Version 5 does for Investment Management.

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